We don’t consider development projects like 455 Prentiss to be flips. The quick resale of 15 Nebraska, however, fits the flipping bill. In the words of a plugged-in tipster with respect to the Bernal property which sold for $660,000 this past July (i.e., three months ago): ”Sellers stayed in the home for a month or two after closing. Sellers finally moved out maybe 2 or 3 weeks ago and all the buyer did was repair floors, install some windows, very inexpensively update kitchen and a bath, and paint…”
The 1,610 square foot home at 15 Nebraska with an unwarranted cottage out back has just been listed for $799,000 with “offers to be reviewed on 10/30 by 5pm” and no recent permits for any substantive work online.
Having closed escrow with a reported contract price of $792,500 on December 27, a permit to replace the foundation of 15 Nebraska was issued on December 28 and there’s now “a stack of lumber in the driveway and…work being done in the garage level” according to a tipster.
Filed today, an anonymous complaint citing “significant work being done at [15 Nebraska] without a permit.” As always, we’ll keep you posted and plugged-in.
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Bernal Flipper Heights [SocketSite]